China Premium Lifestyle Enterprise, Inc.

Jul 26 2007

HONG KONG – (BUSINESS WIRE) – China Premium Lifestyle Enterprise, Inc. (OTCBB:CPLY) today announced that it has entered into a non-binding Letter of Intent with Keyforce (BVI) Limited ("Keyforce"), a subsidiary of Wo Kee Hong Group of Hong Kong, to begin negotiations to acquire from Keyforce its luxury yacht distribution business. Keyforce is the sole shareholder of Keyforce Holdings Limited ("Keyforce Holdings") and Noble Brand Investments Limited ("Noble Brand"). Keyforce Holdings is engaged in the distribution of luxurious Italian "Ferretti" motor yachts in south China while Noble Brand distributes Taiwanese produced "Horizon" motor yachts in the People's Republic of China, Hong Kong and Macau. If consummated, the acquisition would enable China Premium Lifestyle to add the distribution of these vessels in the People's Republic of China to its growing portfolio of luxury brands.

Ferretti S.p.A. manages some of the most unique and prestigious brands in the world, such as Ferretti Yachts, Riva, Pershing, Itama, Bertram, Apreamare, Mochi Craft, Custom Line and CRN. Yachts measure 7 to 80 meters in length, and include flybridge, open top and sport fisherman motor yachts, cruisers and mega yachts. Its distinctive products stand out for their innovative design, quality, safety, excellent performance and a unique beauty that makes them immediately recognizable.

Horizon Yachts are celebrated throughout the world for unparalleled craftsmanship, innovative engineering, exceptional handling and beauty. From its beginnings, Horizon has defined, perfected and consistently exceeded the standards for design and craftsmanship in the world of 53-to-130-foot luxury yachts, with the employment of the most advanced technologies, the finest materials, and the most talented designers and builders in the world.

In announcing the proposed transaction, Richard Lee, China Premium Lifestyle CEO commented: "As disposable income increases drive higher levels of demand for high end luxury goods in China, the interest in recreational boating is increasing exponentially. Ferretti Yachts are renowned for their Italian flair and highest levels of luxury. Horizon Yachts provide discerning owners with premium quality and competitive pricing. The addition of these two product lines positions China Premium Lifestyle at the leading edge of the boating market in China, which has received enormous recognition and awareness from the creditable performance of China's first ever challenge for the Americas Cup in Valencia last month. This potential acquisition reflects China Premium Lifestyle's commitment to build a strong portfolio of luxury brands that are in great demand from high net worth individuals in China."

China Premium Lifestyle, through its 49%-owned entity, has established itself as a leading Ferrari and Maserati distributor and dealer in Hong Kong and China, respectively, having been affiliated with Ferrari and Maserati since 1992 and 1994 respectively. The Company is expanding its offerings to include other luxury goods from around the world, such as the John Richmond fashion line from Italy, which it markets to China Premium Lifestyle's already established customer base of high net worth Chinese individuals.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.

Jason Assad C&H Capital Inc. 678-570-6791 jasona@chinapremiumlifestyle.com